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MaRS Investment Accelerator Fund hits 200th investment milestone, deploying more than $100 million in Ontario startups

Ontario’s MaRS IAF reaches its 200th investment, deploying more than $100M to help early-stage founders build globally competitive tech companies

TORONTO, January 26, 2026 –The MaRS Investment Accelerator Fund (IAF), one of Canada’s most active early-stage venture funds, has reached a significant milestone with its 200th portfolio investment. Since its launch in 2008, the Ontario government-backed fund has employed more than $100 million in capital to support the province’s most promising tech entrepreneurs.

The 200th company to join IAF’s portfolio is Fertility Billing Solutions, a Toronto-based healthtech company that helps fertility clinics streamline administrative work and reduce billing errors through user-friendly digital tools that simplify claims submission and payment tracking. The investment exemplifies IAF’s focus on backing high-impact, tech-driven companies that address real-world problems while driving innovation in Canada’s economy.

IAF deployed more than $9.6 million across 24 investments in 2025, maintaining its position as a critical early-stage capital provider during a challenging fundraising environment for Canadian startups. The fund currently has 89 active portfolio companies across key sectors including AI, digital health, climate tech and deep tech.

“Supporting 200 ventures across Ontario is not just a milestone for IAF, it’s a reflection of the ambition, resilience and ingenuity of Canadian founders,” says Grace Lee Reynolds, CEO MaRS “As global markets fluctuate and risk tolerance tightens, IAF continues to champion emerging innovators who are building globally competitive companies from day one. Canada’s future market leaders are being built right now, and they need early buy-in and consistent support.”

2025 highlights

  • More than $9.6 million deployed across 24 deals
  • Sector focus: SaaS/AI, Digital Health, Climate, FinTech, Deeptech
  • Geography: Toronto, Kitchener-Waterloo, Ottawa, other Ontario regions

Recent investments include:

  • Sellit9: Enabling circular commerce and resale liquidity of electronics for consumers
  • Azoma: Helping brands get discovered and recommended by AI shopping tools
  • Tali: Voice‑enabled AI assistant automating clinical documentation for physicians
  • MedReddie: Using AI to streamline hospital procurement processes
  • Nook: Tackling inefficiencies in consumer fintech and housing
  • ForceN: Force-sensing technology that gives robots a sense of touch
  • Moselle: Automating inventory planning and purchasing for e-commerce brands

Backed by the Government of Ontario, MaRS IAF makes seed-stage investments in software and hardware companies across the province. The fund is designed to fill critical early capital gaps and help founders secure their first institutional investment.

In 2026 IAF will continue supporting early-stage founders across deep tech, digital health, climate and AI, while building stronger bridges to Series A financing and later stage growth capital.

About MaRS
MaRS Discovery District is a charitable organization and North America’s largest urban innovation hub, dedicated to helping Canadian technology companies succeed. With a focus on climate, health sciences and other emerging technologies, MaRS supports startups tackling some of the world’s most pressing issues. Founded in 2000, MaRS spans more than 1.5 million square feet of cutting-edge office, lab, meeting and event space in downtown Toronto across two locations — the MaRS Centre and MaRS Waterfront. Since 2010, MaRS has helped ventures generate $11.5 billion in cumulative revenue, raise $19 billion in funding, and create and maintain more than 33,000 jobs. The MaRS platform also includes MaRS IAF, one of Canada’s top seed-stage venture funds. Through its world-class facilities, strategic programs and partnerships, MaRS accelerates the adoption of groundbreaking Canadian technology and bolsters a globally competitive innovation ecosystem.

For media inquiries or additional information, please contact:
media@marsdd.com